Austin-based Guaranty Insurance Services Inc. announced it has acquired Hilliard Box Insurance (HBI) in Tyler, Texas, giving Guaranty Insurance its first presence in Tyler.
HBI has 31 employees and annual revenues of $4.5 million and is a significant addition to Guaranty Insurance, according to the announcement. HBI’s employees will remain on board and the agency’s graphic look will stay the same.
This acquisition continues Guaranty Insurance’s growth trend of recent years. In February 2002, Guaranty Insurance bought James Econn and Company Insurance of Los Angeles, Calif. In February 2004, Guaranty acquired TCT Insurance Group, one of the largest agencies in the Dallas-Ft. Worth Metroplex. And in February 2005, Guaranty Insurance made its largest acquisition to date, Walter Mortensen Insurance of Bakersfield, Calif., doubling the agency’s size in California.
Guaranty Insurance Services, with revenues in excess of $60 million, has offices in Texas’ major metropolitan areas, as well as offices in California’s Los Angeles and Central Valley regions. Its core business includes retail property and casualty insurance, risk management, and life and health insurance. Guaranty Insurance Services Inc. is a member of the Guaranty Financial Services family of companies, which includes Guaranty Bank.
Source: Guaranty Insurance Services
Topics Mergers & Acquisitions
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